Danish consumer confidence remains low

Despite strong employment and a comparatively healthy Danish economy, consumer sentiment has not improved; in fact, it has worsened. Denmark’s Statistic’s monthly consumer confidence indicator has dipped to -9.3 in November, a further decrease of 0.4 from October and the lowest of the year 2024. A negative indicator reflects a general pessimism among consumers regarding both their own and the country’s economic situation. Louise Aggerstrøm Hansen from Danske Bank notes that Danes are viewing the economy grimly and are likely to focus on rebuilding savings despite real wage growth. However, Kristian Skriver from Dansk Erhverv sees a silver lining, expecting optimism to rise with the prospect of increasing real wages and lower interest rates, eventually boosting private consumption which has been weak in recent quarters. Consumer confidence is gauged through a survey of about 1000 Danes on their financial perspectives and propensity to make purchases.